QUESTION Define one-to-one marketing. Give a scenario as an example. What will be an ideal response? ANSWER Answer: One-to-one marketing consists of reducing market segmentation to the smallest part—individual customers. Sample scenario: A mail-order company keeps track of the products every customer looks at on its Web site and every product each customer purchases. […]
QUESTION A company that makes baked goods created a new peppermint-chip cookie. Before the firm launched the product nationally, with its other products, it first sold the cookies at five select supermarkets in each of five major cities. What was the company doing? What will be an ideal response? ANSWER Answer: The company was […]
QUESTION Peter is standing on a busy street corner in a major city. He is stopping female pedestrians to ask whether they would be interested in a cell phone that had a cut-out space for earrings, so they didn’t have to press the phone against the earrings when listening, thus making the ear feel uncomfortable. […]
QUESTION What is a new product? What will be an ideal response? ANSWER Answer: A new product is defined as a product that either (1) is a significant improvement over existing products or (2) performs a new function for the consumer. New products may be new to a company but not necessarily to the […]
QUESTION Primary data that companies collect from databases for the purpose of getting accurate customer information to use when making marketing decisions can also be used how? What will be an ideal response? ANSWER Answer: Primary data collected from databases can be used for one-to-one marketing (reducing marketing segmentation to individual customers). Explanation: One-to-one […]
QUESTION What are the advantages and disadvantages of using primary data sources and secondary data sources when conducting market research? What will be an ideal response? ANSWER Answer: Secondary data is cheaper and easier to obtain, but it is open to competitors, may not fit a company’s needs, and may be out of date. […]
QUESTION Consider this statement: “The designers must consider shape, size, color, brand name, packaging, and product image.” Where in the marketing process does this statement apply? A) to conducting research and determining the target market B) to the product strategy C) to the pricing strategy D) to the place strategy E) to the promotion strategy […]
QUESTION Andre has a small office supply store in which he sells 50 percent recycled printer paper and 100 percent recycled printer paper. He also does a great business with his nonrecycled printer paper. The 50 percent recycled paper does not sell well. Andre has found out that nearby big-name office supply companies sell it […]
QUESTION Which of the following is NOT one of the four steps in marketing research? A) define the problem B) collect facts C) analyze the data D) obtain feedback E) take action ANSWER Answer: D Explanation: D) The four steps in marketing research are: (1) define the problem; (2) collect facts; (3) analyze the […]
QUESTION When a consumer takes practical action by protesting a product by e-mail, by blogging about a product, or by providing feedback about a product on an independent website, the consumer is at what stage of the process of consumer buying behavior? A) problem recognition B) information search C) evaluating alternatives D) purchase decision E) […]
